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Home My WebLink About0426 a~?{~ly su~•h n~ntr, ~~.urs und pmtifa t~vrivecl hy i/ on the ind~•bt~~cl~u•sq sir•unrl h~•mby in su~•h ur~l~•r a~ ~1or1~;:~K~~c• ~i~•t~•r u~incess. The r~ght to ent.•r :~nd tuke {K~+.u:.,iun uf the 1~lortg:~Kc,1 !'n?,ierty, to munuKe i~nd u~~er.~t~~ the ~:~m~. :~nd ~u ~~oU~~~~t 1he rents, ixsurx :~nd prutita thereuf, whethe~ by recri~•rr or other~~iso, sh:+il 1~ cumul.~ti~•e to i~ny uther nKht or re~n~~+lv hemunder or nlto~d~d hy luw, und nu~y 1~ e:en•ieied cunruRently themwith or indr{mndenlly ther~y~f. MortK:~K~r• shull I~e li:~ble to ucrount only for such rrnla, isauex and ~?ro(ita uctu.~lly ~rivc~cl by Mortgy~Kc~c•. 14. It Ihe indebt~~clnrsss ~e.•un~d hemby is nuw or hereufter (urlhrr sc~•umd hy chuttel nwrtKuKes, s~r•urity intem.ts, (inuncing stutementa, pledges, contr:~~•ts of Ruar.?nty, as~iKnmenta ot leuses, or othe~ scY•urities, or if the MortgaRevl Yro- ~x•rty hereby encumlxred conaista oi more llu~n ono ~uucel o( reul properly, I~1orlgnKee ?rwy ut ita optiun eYhuusl uny one or more o( saiid ue.uritic•ss und security henunder, o~ such ~wmelx of the r~•urity hereunder, cither i•uncur~enUy or inde- ~,endendy, und in auch order us it rruiy determine. 15. This htortg~ge sh.~ll ~vre not only existinR indehtedness, bul adso ~uch (ulurn .~d~~i~n~rs, whether su~•h udvuncea am obligtibry or to t~e mude iit the option of AtortgaRcr, or other.~ise, .?s urn m.~de within twenty 120) year's (rum the d:~tc~ hen~t, to the same cYtent .?s it such (uture i?d~~am~es wern ninde on the date of the exec•ution ot this 14lortgaKe, but su~•h se.•und indebtednes4 ~hall nol excctid .~t uny time the m:~ximum princi~u~l :~mount of S plus interesf, and uny dishursementa made for the ~?:rymen! ot t.ixi~. Ie~ics, or insur.ince, on the 1~toH~uKed 1'ro{x•rty. N•ith interest on such diabursemente. Any such futum ad~~un~rs, whether ul~ligatory or to be ~nade at the option of the AtortRage~, or othen+rise, mny be made either prior to or atter th~• due d.ile ot the Note or siny other notrs sc~~ured Iw this 111orlKage• This Tlortgage is givrn tor the s~x~~itic pur~~oee ot se~•urinK :mv :~nd ull indehtcvlnc:sc by the Mortg:~gur l0 1~tort~;aRre (but in no event shnll the securecl indebteclness ex~~rcl nt uny time the m.~zimum princi~~:~l :unount ~t (orih in this ~u~r.~gr.~ph) in ~•hHte.•er nuinner this indebt~dnc~s ma~y t?e eviden~Y~1 or repmsented, until lhis ll~ort~aRe is s:itistied of rcr•ord. All cocen- :~nts und ugmements cont.~inecl in this I~fortQaKr sh:~ll Ix• :~ppli~•able to :~U furthi~r :~d~:~n«~ n~ad~~ I~y ~1ortRaRre to AtortRagor under ihis (utum ad~•nince clnuse. 16. No deluy by 1Nortg.~gee in exercising :iny right or mmedy henunder, or ulhrrwisc .~flordcY! by law, shall u~~erate as a wai~~er thereof or preclude the exerci~e themuf durinK the continuaner of :urv detault hemunder. No vrai~rr by ~lortgagee of :iny default sh:~ll constitate a wai~•er ot or consent to yuiuequent defaults. No (:~ilure o( tl~tortK:~Rec~ to exer~•ise any option herein Riven to acreler.ite m:iturity of thc deht hemby sccurrd, no (orlx~ar.ini•e by MortgaRee I~ef<?rn or a(ter th~~ ezen•ise of such option and no withdrY~w.il or atk~ndonment of foreclosure praY~eding by A1ortgaRee shall I~e taken or ~Y~n- - SlRlt`d AS A W.11~~er of its riRht to exercise such option or to n~relernte the maturity of the debt he~vby sec'un•d hy m:~son ot ur?~• Eu~st, pmsent or future default m~ the ~u~rt ot AtorigaKor; and, in like manner, the ~>rocumment o( insuran~r or thc ment of t~xes or other liens or ch.~r~es by 111ortRuRcr shall not Ix taken or i•on~truecl as wai~•er of its riKht tu a~•~~rlt•rate the nwturity o( the debl heret?t• s~.~cumd. 17. N'ithout a([ectinR the liability ot A1ortKaKur or .~ny other ~x~rson lexmpt :iny ~x•rson exprrssl~~ relea~K1 in writinkl for ~~:iyment of aoy indebteclness sec•un~l hereby or for E~ertorman~•e of any obliRation containc~d hrrNin, and w•ithout :?(IEr•t- inR the rights of I~lortgaRee with ms~~•t to any scti~urity not expressly released in writinK, MortqaRee m:~y, at any time anJ fn~m time to time, either t~efom or atler the maturity of s:~id note, and without noticr. or consenL (a) Release any ~~erson liable (or p:~yment of all or any parl of the indehtedness or tor ~x~riurmani•e ot any obliRation. . (b) ~111uke any :~Rreement extendi~g thc time or otherwise .~ltering the terms of ~k~yment of all or :iny ~?:+rt of th~• indehtednrss, or mcxiifyinR or w:~i~•inR :iny obliKatian, or sulx~rtlinating, nwditying or otherwise dealing w~ith the liE~n or charge hereo(. (c) Exen•ise or refr.iin trom exen-ising or N•ai~r a~y riKht A~tortR:igc~> may h:~~r. (d? Accept addition;d sec•urity of any kind. (e) Rele;~se or othen~~i~e deal with .iny pm~~erty, re:~l or {~ersonal, se~•uring the indebtc~nc~s, ini•IudinR all or :~ny part o( the 1lortgaged Pro~~erty. _ l8. Any aRreement here:~fter mude by MortKagor und lUortK:+1:c'e pursuant to this morlRa~~ shall IK• su{x•rior to thc~ riRhtti ot the holder of any intenrning lien or encumhrance. ~ 19. blortRagor hemhy wai~~es all riAht o( homestead exemption, ef any, in the hlortRaRe~1 Ym~~erty. ~ 'l0. In the event of condemnation proi-eedings ot lhe 1~lortgaRed Yro~~erty, the .iward or com{~ens:dion ~x+yat~le there- ~ E under is hereby assiKned to and shall t?e paid to Mortgagee. 1ltortgagee sh.ill t?e under no obligation to question the amount ~ of any such av?ard or compensation and r~u~y accept the s:ime in the amount in which the same shall be p.iid. In ant• su~•h condemnation proceedings, Aiortgagee may be represent~~ Frv c-ounsel selecled by ~1ort~agee. The proceeds of any aK•ard ~ or compensation so received shall, at the option of MortgaRee, either be applied to the prepayment of the Note and at the ~ rate ot interest prorided therein, reRardles~g of !he rate ot interest ~z~~able on the :~K•ard by the condemninR authorih•, or at ~ the option of 111ortgaRee, such aw•ard shall t~e ~k~id o~•er to '~lortgaRor tor restoration of the MortRaKed Property. . ~ 21. If A1ortRaRee, pursuant to a ironstruction lain aKreement or I~an commitment made by A9ortgaKee with-Morl~aRor, ~ ` a~rees to rr~ke construction Ic~:+n ad~•anceg up to the princi~k~l amount ot the Note, fhen 111ort~;aRor hPreby ~o~•enants that it ~ will comply with all of the terms, pro~•isions and coven~nts of s:~id construction loan agreement or la~n commitment, will ~ dili~ently construct the improvements to t?e built {?ursuant to the terms thereof, all of the terms thereof which :ire in- ~~or~x~rated herein by reference as thouRh set (orth fully herein and N•ill {~ermit no defaults to occur thereunder and it a de- ~ f:~ult sh:~ll oc~vr thereunder, it ~hal) constitute a defaalt under this MortRage and thP Note. ~ ~ 22. At the option of rtortgagee, ~tortRa~or sh:~ll pn~~ide \lortgaRee with periodic rertified audited statements ot the (inan~i:d condition oi 111ortKagor. ~ ~ 23. Alortgagor represents .ind ~~~arrants that ii a cor~wr.ition, it is duly orKa~nized and v:ilidl_v existinR, in Qood stand- in~ under the law•s of ihe stale o( its incor~~oration, has sta•k outstandinR which h:?s lxen duly and ~alidly issued, and is ~ yualified to do business and is in ~uod standing in the State of Florida, with ful) ~x~wer and authority to consummate the ~ loan.contemplated hemby: and, if a~n~rinership, it is duly formed and vnlidly eaisting, and is tully quali(iecl to do husiness ~ in the State ot Florid:l: NItFI ~UII ~MN~er and authority to ~-onsun~maite the loan coniemplated hernby. 24. In the e~•ent anY one or more of the procisions ~ontained in lhis 1ltortgage or in the Note shall (or any reason - he held to t?e im•alid, ille~al or unenforceable in any respect, such im~alidity, i1leRality or unen(orceablity shall, at the option of the 111ortQaRee, not af(e~•t any other pmvisions of this 111ortgage, hut this I?lortgage shall he construed :is i( such ; in~~alid, illeRal or unentorceable provision had ne~•er 1?een c-ontained herein or therein_ The total interext payable pursuant ~ to the Note or this Mort~~Re shall not in any one year Px~•trd the hiRhest law(ul rate of interest in the State of Florida: s 25. The co~•enants and aRreements herein containecl sh;,ll bind and the benefits and advantages shall inure to the " res~~ec•tive heirs, executors, administrators, successors, and :~ssiR~g oi the ~xirties hemto. Wherever used, the sinRulnr - numt?er sh:ill include fhe plural, the ~~lurnl the sinRular, and the use ot any Render shall be t~pplicable to all ~enders. All covenants, agreemente and undertakings shall F?e joint and ~event_ In the event cidditional numbemci covenants or para- Qr~phs are for eonvenience inserted in this 1ltortRaRe. such additional ~~~ennnts shall he read and ~i~'en effect as though ;r.''~ following this c~~•enant in rnnsecuti~•e order. ~ ~ ~ -3- ~ 60Dr ~c7~ f'~G; - ~:v ~ k:~.-° ; - - - - _ ~ _ ~ + ~ + ~za - - I 4 ~ j G {°S ' ~ ~~'~'~.~'~F.3`f 2 s5~ . . _C ~ ,~~~,r'T4-~~ "GT'1R . 'I'~ Y _ '~`~S~ T •S~ ,~z,c.~~'-~v ai~y , ti. ' ~ t~, >-a~_ ~ ' ~